As Seen in the Philadelphia Business Journal
A: Shortly after a couple gets married, the following items should be reviewed in
order to prevent any unexpected consequences:
- If a spouse chooses to change his/her name, be sure that proper steps are taken with the Social Security Administration. Be certain a copy of the new social security card is provided to your tax advisor in order to ensure that the correct name is used on the tax return. If the correct name is not used, there could be a problem if electronically filing the return.
- Check all retirement plan and insurance policy beneficiary designations.
- Update all estate planning documents.
- Your tax advisor should be informed and a copy of the spouse’s tax return should be provided.
- A change of address form should be completed and filed with the Internal Revenue Service, if necessary.
These are easy tasks, but ones that are often forgotten.